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CNBC
Dec 11, 2012 1:00pm EST
the new york stock exchange with the dow jones industrial just off the highs of the trading session. we're up 109 points on the dow despite the gridlock in washington. nasdaq is up 41 points and s&p 500 is up 13 points. all three of those averages moving back above their 50-day moving average. first time we've seen that since october. trader from cnbc, and ceo of destination wealth management. ken y, i'm going to start with you. you were champing at the bit listening to the interview that was done in washington. why is this market up triple digits? is it up because they think there is a deal or isn't a deal? >> very interesting. i'm beginning to think the market is rallying because there is no deal, we're going over this cliff. let's not forget, it was a bipartisan committee that couldn't come to an agreement which created the situation we're in. that senator said one side jumping off the cliff. in fact, grab hands. we're all jumping off the cliff. both sides are jumping. in that case the market could, in fact, be rallying. if we go over, it's going to force spendsing cuts, complian
CNBC
Dec 10, 2012 1:00pm EST
. welcome to "power lunch." as you can see, we are beth here on the floor of the new york stock exchange. and stocks are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do if there is a debt deal before year-end or shortly thereafter. we have smart strategies and individual stock picks for you this hour. >> that's right. well also take a look at another side of google that you very rarely hear about. the internet giant stashing billions in tax shelters to avoid paying taxes. is that fair play or outrageous corporate behavior? especially in this climate. well talk about that. but first, markets are generally higher. dow jones industrial average up 29 points on
CNBC
Dec 26, 2012 1:00pm EST
titans might lead the new trends? simon hobbs is in at the new york stock exchange. >> good afternoon. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the loss of confidence in american governance and the american economy, but that's not necessarily going to be the case. we still have a few days left. a white house official told me that there have been no progress over the last couple of days, but an aide to senator harry reid told me there's still a 50/50 chance we get a mini deal that would put off the effects of the cliff at least temporarily and a 50/50 chance of that happening before january 1st. so even though there's a small number of days, sometimes the urgency of a deadline forces lawmakers to overcome differences they
CNBC
Dec 31, 2012 1:00pm EST
traders here on the floor of the new york stock exchange for time honored tradition since the depression, and the singing of wait until the sun shines again. mr. mcguire? ♪ wait until the sun shines, as clouds go drifting by ♪ ♪ we will be happy, nelly, don't you cry ♪ ♪ ♪ sweetheart you and i ♪ wait until the sun shines, nelly, 12340e ♪ >> with breaking news from washington, john harwood. john? >> i just add conversation with an aide who confirmed there is a deal on the middle class tax cuts pks and it appears they agreed on threshold of $450,000 for families, $400,000 for individuals. that's a narrower gap at that income level tp. it is designed to catch more individuals with $400,000 incomes to catch a greater proportion of those making higher incomes. under the higher 39.6 rate. the gop aide says he expects president obama to affirm that publicly at 1:30 on additional portions. we are looking, the aide confirmed, at likely 40% rate on the estate tax retaining the $5 million threshold for taxing estates. 20% rate above the thresholds but 15% rate would likel
CNBC
Dec 21, 2012 1:00pm EST
. >> a federal grand jury in new york returned a three count indictment against the former sac portfolio manager accused in what federal officials call the most lucrative insider trading scheme ever. he was charged earlier under a criminal complaint, a shot across the bow, this indictment signals that if there were efforts and talks under way, to get him to plead guilty and possibly testify against his former boss, steven cohen, those efforts have broken down. again, matthew martoma indicted by a federal grand jury. he could plead guilty and enter into a plea deal. now steaks have gotten higher. if you are steven cohen and his lawyers, you are probably breathing a little bit after sigh of relief. sue? >> i was going to say, put some distance there. thank you very much, scott cohen. >> the market doesn't like what is going on in washington. that's an understatement. we are approaching the lows of a statement. we are off 166 points on the dow. we will get perspective on the market in just a moment. "power lunch" is back in two minutes. they could save a lot of money on their car
CNBC
Dec 20, 2012 1:00pm EST
as to figure out the right gift from your selections and the person i'm giving the gift too, has new york work to pick out the gift too. >> we make it far easier than going to the store it find a gift. second we find a lot of time finding product you don't find in retail. >> what you would find in a small boutique but we have thousands and thousands of products. >> your concerns and questions for john, patrick? >> john, congratulations. it used to be giving one gift to one person. is this working? do you see return rates lower than traditional model? >> our return rates are almost zero. it is remarkably low low. >> final question to you. >> john, receiving kmod advertised these days. how do you find the rarite snems. >> that's a big part of what we do. we have a team of brilliant buyers who scour the product that you haven't found anywhere else, that aren't the can kinds of things amazon would typically carry because they aren't in large quantity. >> julia, first to you then. >> i will be spending a lot of money this holiday season but i would say as look at this as an investor, and
CNBC
Dec 12, 2012 1:00pm EST
on what happens if we do go over. my partner sue at the new york stock exchange. my partner sue with big interviewes this hour. >> that's right, ty. i spent the afternoon at blackrock's trading room and i got their outlooks for 2013. you will see it first here on cnbc. >>> here are investment take aways. fixed income. they feel there is danger in what many people consider a safe play. commodities, they have a long view there in many of those sectors. equities is kind of a global shorg an board, if you will. but they like the u.s. best. and in currencies, blackrock is all about being a dollar bull. so where specifically are they putting all that money to work in light of fiscal cliff? take a listen to what bla blackrock's robert casid 0 to me. he manages the firm's $3.7 trillion in assets. >> does this mean we good over the fiscal cliff. >> it is a very high likelihood it does or 11:59 on december 31st with a lot of hoopla. but tax rate are going to go up. there is a going to be a conclusion to this. even if it waits until the last minute. even if it is in january, what it is going to
CNBC
Dec 28, 2012 1:00pm EST
york post headline. i love to read "the new york post." >> you can't live without the post. >> you can't live without the post. it says that instagram, which was bought by facebook for a billion earlier this year, has lost nearly 1/4 of its users because of privacy concerns. two questions here, number one, was that instagram deal a good one for facebook and, number two, do you think privacy is going to be a bigger issue for social media come 2013? >> well, i'll take the privacy issue first because that is already on the table with facebook and instagram. there were two class action suits last week launched in california against instagram for the breach of privacy, whether they announced that they were going to sell to advertisers the photographs that people posted on instagram. >> what were they thinking, porter? i mean, they've tried to back from that and say, well, it wasn't what it's being portrayed to be, but by any measure that's a bone headed move. >> oh, absolutely. and mark zuckerberg's own sister, randi zuckerberg complained mightily and went public with her own complaint
CNBC
Dec 27, 2012 1:00pm EST
definitely been the case if you look at the numbers. i can give you an anecdote, i flew to new york for $195. cheap flight. airlines are selling a commoditi commodities parishable industry. if that seat goes unfilled it's lost revenue. i have a hard time believing when you have a company like southwest that wants to grow, you won't see any willingness to cheat or cut your prices in order to fill seats. >> so should people short these stocks, do you think? are they just flat? how far would you go? >> well, my view is u.s. airways is priced primarily on the merger potential. if you have a varying view that the merger won't go through, you can consider that from a short perspective. from the rest of the industry, i think they're fairly valued. i have a hold on all the stocks. it's a question of will the capacity pricing and discipline continue? i disagree. it's a commodity industry. there's nothing precluding them from starting new routes. yes, there have not been any new airlines recently but there are not any barriers to entry that i just don't see pricing power existing. >> all right. b
CNBC
Dec 13, 2012 1:00pm EST
foreclosure starts numbers. that the first stage of foreclosure in new york, new jersey, arkansas and washington. you see the repo man will be busy there in 2013. now, home prices have been rising nicely. but this new supply of bank-owned properties coming to market next year could temper though gains a bit and remember, the overall drop in foreclosure activity is due it a big jump in short sales and principal reduction loan mods and those are on the fiscal cliff if we lose on the forgiveness. we have plenty more to look at on the facebook page, so go ahead and go to it, as well as the blog. sue? >> thanks, we will. >> the global natural resources continues. they just inked a joint venture with aca. you see the stock pop reopen. it was halted for trading. they are doing a joint venture in canada for space of land that could have up to 9 billion barrels ever oil or equivalent. they are paying a billion up front at close. another billion over four years. and they will invest 4 billion all for 49% stake. they have been doing this for a couple of years now and they continue. back to you,
CNBC
Dec 5, 2012 1:00pm EST
new york. that is, be prepared on friday for potentially, especially in the household survey that creates the unemployment number. be prepared for potentially big sandy effects. let me tell you why. we had an early thanksgiving this year. 11/22. the 22nd of the month. what happens on those kind of years is that the bls moves back the survey week from the 12th which is the normal survey week in this case, to the 5th. what was the fifth? it was the week that really the worst effects of sandy in terms of people not reporting to work or maybe even to find work hit. so there could be bigger numbers that were out there than perhaps people expect. 118,000 was the number on the adb. mark zandi from moody's calculates the number. he says 86,000. it may have been reduced by 86,000 because of hurricane sandy. but there was a good number today which was the ism data when it comes to the services sector. you can see it was up. there's the adp data. but i want to talk about the services sector which was up a bit more than expected. then what you had, business activity was up, new orders were up
CNBC
Dec 3, 2012 1:00pm EST
rest are new york, new jersey, illinois and nevada. four out of five are judicial states where you need a judge to sign off on each foreclosure. nevada seeing a big slowdown due to new laws there protecting borrowers. expect to see more of a drop in foreclosures in the coming months. both fannie mae and freddie mac announcing their usual foreclosure moratorium for the holidays. most banks halt foreclosures for 90 days in new york and new jersey. clear capital will release a report tomorrow showing home price gains weakening rather dramatically in november and they're warning all bets are off on housing improvements should we go over the fiscal cliff. >>> speaking of housing, would you buy a mortgage from walmart? or how about a mortgage from an onlime payment providing like paypal? results after new survey, what does it mean for banks and consumers in the next half-hour. >>> a deal may be in the works involving two of the best known airlines. delta is in talks to buy 49% of virgin atlantic from it current shareholder which is singapore airlines. cnbc's phil lebeau is back with us from c
CNBC
Dec 14, 2012 1:00pm EST
looming fiscal cliff. my partner, tyler mathisen kicks it off for us at the new york stock exchange. >> thank you very much. it is a quiet day down here at the new york stock exchange where the major averages are not really doing very much at this hour. let's take a look. the industrials are down 7 2/3 points at 13,163. nasdaq a little bit lower also in percentage terms. also a percentage at 29891.48. 2 3/4 right now at 1416.74. it would appear the markets are watchfully waiting to see what comes out of washington, if anything. of course, mr. boehner has gone back to his home in ohio for the weekend. the president is on duty at the white house. there are phones, as mr. boehner said, in southern ohio where he lives. if there are any developments, the two gentlemen certainly will be able to get in touch with one another. meantime, there are some individual stock stories of interest at this hour. and one of them concerns facebook. be a facebook lockup expires today and 150 million shares will open up on the market. the last time we had a lockup expiration many expected to see the stock
CNBC
Dec 19, 2012 1:00pm EST
you what it means for investors and taxpayers alike. sue herrera down on the floor of the new york exchange. sue. >> it's 12 days to go until america goes off that fiscal cliff. both sides, as you just mentioned, are still sniping at each other. that's one of the reasons why the dow is down slightly. president obama said he would veto the house republican plan b tax proposal designed to avert january 1st tax hikes. the house speaker, mr. boehner, responded by saying that that was irrational and bizarre. john harwood is at the white house to sort out all the latest. yesterday, john, they thought they were getting real close to a deal. it certainly doesn't sound that way today. >> sue, it does appear that they've hit a deadlock in negotiations. you saw the president in a fascinating news conference that he just had in the white house briefing room try to leverage the emotional power of the tragedy in newtown, connecticut, to try to put the pressure on republicans. he talked about them taking off their partisan war paint. he said he'd more than met them halfway in terms of spending cuts that h
CNBC
Dec 18, 2012 1:00pm EST
floor of the new york stock exchange. hi, sue. >> hi, ty. it's a strong day with a triple digit advance. we have 13 days until america goes off the fiscal cliff. events moving faster in washington. house speaking boehner meeting with party members, moving to plan b. that deals with bush era tax cuts. the white house rejected that. investors like whatever progress we're seeing. s&p 500 at a two-month high. s&p up 1 1/3 -- 1.1 on s&p, dow jones industrial average up 114 points, almost a full% enand nasdaq up 1 1/3. the latest on how those negotiations are progressing. >> over the last 24 hours or so we've had a flurry of proposals, counter proposals, responses, responses to responses. as it lies right now, basically all those responses have been rejected by the other side. at the top of 2:00, we should have a new round because we're going to expect to hear from the senate democratic and republican leaders coming out and talking to cameras. we might get more reaction then. but earlier today speaker boehner came out and unveiled the big one, a two-track plan that would have the hous
CNBC
Dec 6, 2012 1:00pm EST
. >> just do what's right. pretty good mantra there, brian, joining us from new york. why did he -- or did mr. cook say, brian, why he wants to bring mac production back to the u.s.? is it really just because he thinks it's the right thing to do or because it's economical now or what? >> well, he didn't speak to motive but i am guessing, tyler, given all the talk about china, given all the china problems they've had, working conditions, salaries, his forced trip over there, i'm guessing they think this would and good idea. they talk a lot about skilled labor over here and not educating the kinds of workers they need. but it's just one of the points he kind of scatters through this first real interview which was months upon months in the making, as i need not tell you. >> yes, indeed. sometimes dealing with apple, it takes a long, long time to get through. but once you do, they're very forthcoming. brian, did he speak at all to -- i don't want to use the word burden but in some ways it is a burden. they don't produce a lot of products every year but they do produce products that they co
CNBC
Dec 7, 2012 1:00pm EST
work in progress, according to this, is at new york stock exchange. hi, ty. >> i am the ultimate work in progress. thank you very much. >>> despite the assessment from the speaker of the house on the fiscal cliff, the fact he says there is no progress being made so far, the dow sort of playing past it. right now the industrials up by 46 points at 13,120 and change. apple is part of the nasdaq. apple down $14 a share. another 2.66% today as scott mentioned a moment ago, $50 billion in market value shaved off of apple this week alone. >>> let's begin with those comments just 24 days to go until america confronts the fiscal cliff. house speaker boehner coming out earlier today and saying no progress has been made in the negotiations. our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the s
CNBC
Dec 4, 2012 1:00pm EST
guy is getting killed. you know they're talking about that one, sue, down at the new york stock exchange. how are you doing, sue? >> great, ty. indeed they are talking about that and we are going to talk bhort exact numbers on that study in just a few minutes. stocks are steady. talks continuing in washington. we are just down about 12 points on the dow jones industrial average, 27 days until america goes over that fiscal cliff. the president just finished answering questions on the issue after meeting with governors at the white house and our political correspondent, john harwood is live at the white house and eamon javers is talking with key congressional players on those talks. john, first to you. >> reporter: the president talked to our colleagues at bloomberg and talked about the republican offer from speaker boehner on the fiscal cliff resolution. he said it was out of balance because the speaker has not agreed to rate increases but the president identified a two-step process by which he is hoping still to reach an agreement before the end of the year, if he can get republ
Search Results 0 to 17 of about 18